With talent emerging as a key differentiator in the business, Infosys will hire 55,000 or more freshers in the next financial year, CEO Salil Parekh has said.
“We will recruit 55,000 college graduates in this financial year, which will end in a couple of months, and we will hire that or a higher number next year. Our approach has always been to be the best training providers,” Parekh said at the NASSCOM Technology and Leadership Forum 2022 (NTLF) on February 16,
He was in conversation with Noshir Kaka, Senior Partner, McKinsey. The three-day NTLF is being held from February 16-18.
The company has a comprehensive training programme—between six and 12 weeks—when college graduates join. They are trained on the firm’s methodologies and what it does, including cobalt, digital capabilities, so that they become productive quickly.
“So, the key really to what we want to do with people and talent is to make sure first we are bringing in people now,” he said. Of the 55,000 the company is hiring this year, 52,000 are from India and 3,000 outside.
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There is a huge focus on reskilling the employees as well. “We want to make sure, unlike some of our peers, to reskill all of our employees and make them more career-ready for what they can do with the new technologies whether it's cloud, data analytics, AI, cybersecurity, IoT, and so on ,” Parekh said.
In terms of business, large enterprises were spending more on cloud and digital transformation initiatives. Parekh said that as software-as-a-service takes off, the company was also seeing increased adoption for its banking product Finacle in North America and Europe.
An increase in fresher hiring and the focus on skilling is coming at the back of rising attrition for companies even as the demand continues unabated.
Infosys’ attrition for the quarter ending December 2021 stood at 25.5 percent. The IT major increased its revenue guidance for the third time this fiscal to 19.5-20 percent on the back of strong growth momentum.
Strong growth is a result of rising technology adoption brought about by the coronavirus outbreak.
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